NDLI: Exchange Rate Volatility and Growth in Emerging Europe and East Asia

Content Provider	Springer Nature Link
Author	Schnabl, Gunther
Copyright Year	2008
Abstract	The paper investigates the impact of exchange rate volatility on growth in Emerging Europe and East Asia. Exchange rate stability has been argued to affect growth negatively as it deprives countries from the ability to react in a flexible way to asymmetric real shocks and increases the probability of speculative capital inflows and overheating. In contrast, exchange rate stability can be argued to affect growth in emerging market economies positively as transactions costs for international trade decline, uncertainty for international capital flows is less and macroeconomic stability is enhanced. Cross country panel estimations provide evidence for a negative impact of the exchange rate volatility on growth in both Emerging Europe and East Asia. Parts of this negative growth effect can be associated with exchange rate volatility caused by macroeconomic instability.
Starting Page	565
Ending Page	587
Page Count	23
File Format	PDF
ISSN	09237992
Journal	Open Economies Review
Volume Number	20
Issue Number	4
e-ISSN	1573708X
Language	English
Publisher	Springer US
Publisher Date	2008-06-05
Publisher Place	Boston
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Exchange rate volatility Growth Emerging Europe East Asia Development Economics International Economics
Content Type	Text
Resource Type	Article
Subject	Economics and Econometrics

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1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
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Exchange Rate Volatility and Growth in Emerging Europe and East Asia